SCHUMER: Pushing legislation that will spur capital investment and new hires

STATEN ISLAND, N.Y. -- Spurring growth and investment for the small businessman is on the agenda this morning at a meeting of the Staten Island Chamber of Commerce with Senator Charles Schumer.

Schumer is pushing a bill that would provide tax cuts that can help local business owners both expand their companies and hire new employees. The measure would lower tax bills when companies by new equipment or hire new workers.

The Small Business Jobs and Tax Relief Act of 2012 would allow small business owners to write off the entire cost of new capital equipment purchases on their taxes, saving thousands of dollars in year-end tax costs. The bill also contains a 10% tax credit for each new worker hired in 2012, reducing the tax burden for businesses that create new jobs by up to $500,000.

The meeting at the Chamber's St. George headquarters will include business leaders from across the Island.